Northland downgraded Emeren to Underperform from Market Perform with a $1.50 price target following what the firm calls “another disappointing quarter.” With a new auditor set to step in after the abrupt resignation of the prior auditor and a 2023 10-K not expected for several more months, the firm sees the potential for write-downs and impairments and/or other factors to lower the book value, the analyst tells investors.
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